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GreenWood Investors, an investment management company, released its fourth quarter investor letter. A copy of the letter can be downloaded here. The fund’s separate accounts composite generated 16.6% returns, in 2024, roughly in line with the benchmark MSCI ACWI return of 16.3%. Since inception to date, the strategy returned 10.8% CAGR compared to 7.7% for ACWI. In addition, please check the fund’s top five holdings to know its best picks in 2024.
GreenWood Investors highlighted stocks like PDD Holdings Inc. (NASDAQ:PDD), in the fourth quarter 2024 investor letter. PDD Holdings Inc. (NASDAQ:PDD) is a multinational commerce group that operates through Pinduoduo, an e-commerce platform and Temu, an online marketplace. The one-month return of PDD Holdings Inc. (NASDAQ:PDD) was -3.00%, and its shares lost 32.76% of their value over the last 52 weeks. On January 8, 2025, PDD Holdings Inc. (NASDAQ:PDD) stock closed at $100.32 per share with a market capitalization of $139.321 billion.
GreenWood Investors stated the following regarding PDD Holdings Inc. (NASDAQ:PDD) in its Q4 2024 investor letter:
"Aside from transitory foreign exchange translation losses (as opposed to trading losses), the two other notable detractors from our portfolio were MEI Pharma and PDD Holdings Inc. (NASDAQ:PDD) in 2024.
A close-up of a customer using the company's e-commerce platform whilst shopping online.